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• W2081121444 abstract "This paper compares the performance of simple voting rules, called referenda, to the performance of interim efficient mechanisms for the provision of a public good. In a referendum, voters simply vote for or against the provision of the public good, and production of the public good depends on whether or not the number of yes votes exceeds a prespecified threshold. Costs are shared equally. We show that in large populations for any interim efficient allocation rule, there exists a corresponding referendum that yields approximately the same total welfare when there are many individuals. Moreover, if there is a common value component to the voters’ preferences, then there is a unique approximating referendum." @default.
• W2081121444 created "2016-06-24" @default.
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• W2081121444 date "2002-02-01" @default.
• W2081121444 modified "2023-10-14" @default.
• W2081121444 title "The approximation of efficient public good mechanisms by simple voting schemes" @default.
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• W2081121444 doi "https://doi.org/10.1016/s0047-2727(00)00161-4" @default.
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